- While traditional lenders remain reluctant to serve state-licensed cannabis industry prospects, REZYFi focuses on servicing the sector
- ResMac subsidiary expects to accumulate $285 million in retail origination and $250 million in wholesale origination in 2023
- The National Association of Realtors(R) reported one-third of surveyed agents experienced an increase in demand for warehouses, 28% in land demand, and 23% in demand for storefront property
REZYFi, a cannabis mortgage bank servicing the needs of both traditional and non-traditional consumers and businesses, is one of the first mortgage bankers of its kind in the United States, leveraging its position in a market where most traditional lenders remain diffident to serve the state-licensed cannabis industry. Through its two wholly owned subsidiaries – REZYFi Lending and ResMac Inc. – REZYFi is targeting licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners seeking a variety of real estate-related first and additional mortgage-based financing and project-specific financing.
Through REZYFi Lending, the company is leveraging a wide network to offer multiple options, including 15- to 30-year fixed rate loans, FHA loans, VA loans, reverse mortgages, jumbo loans, and adjustable-rate mortgages. The company expects increased funding in marketing and loan agents to drive significant growth in origination over the next two years, which is supported by the planned launch of a high-margin cannabis division later in 2022.
In operation for 13 years, ResMac Inc. has closed more than 20,000 loans for more than 15,000 clients and expects to accumulate $285 million in retail origination and $250 million in wholesale origination in 2023. ResMac is also targeting $600 million in origination through its mortgage correspondent operations during the same period. The company intends to harvest the database of customers within its mortgage servicing operations as an essential source for expanding the new alternative residential loan programs it will operate.
In an April 2021 report titled Marijuana and Real Estate: A Budding Issue, the National Association of Realtors(R) (“NAR”) examines the impact that cannabis legalization has on the real estate industry. In states where prescription and recreational cannabis use is legal, more than one-third of the agents surveyed reported an increase in demand for warehouses, 28% observed increases in land demand, and 23% reported increases for storefront property (https://cnw.fm/Yvh01).
REZYFi is demonstrating its corporate strengths within the market through experience, a network of independent brokers, and proprietary technology through both subsidiaries. The company is led by a seasoned management team with over 40 years of combined experience in the mortgage and lending industry, as well as experience in the cannabis and hemp marketplace.
Over the past five years, REZYFi has developed an extensive network of independent mortgage-related brokers and licensed loan officers – with training that has already commenced for network members to familiarize them with the company’s new service offerings. Through its proprietary automated/machine learning technology, REZYFi shortens loan processing timeframes and increases efficiencies, allowing it to operate its legacy business at staffing levels meaningfully below its competition.
For more information, visit the company’s website at www.REZYFi.com.
NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://cnw.fm/REZY
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CannabisNewsWire.com
Do you have questions or are you interested in working with CNW? Ask our Editor
CannabisNewsWire is part of the InvestorBrandNetwork.